AUSTRALIA: Australia's Cotton Output may soar to 1.5 million bales
Australia's cotton output will almost triple next year as farmers expand their fields, which have received beneficial rains, the U.S. Agriculture Department said. Production may soar to 1.5 million bales in the year ending September 2009, from 525,000 in the year ending this September, the agency's Foreign…
Egytex News Desk
Egytex
Australian cotton growers haven't benefited from the 43 percent gain in U.S. cotton prices in the past year because of the country's strengthening currency, the USDA report said. The Australian dollar has gained 15 percent against the U.S. currency in the past year.
Cotton futures for July delivery fell 0.27 cent, or 0.4 percent, to 69.29 cents a pound today in New York
Source: Bharat Textiles.com
From the Egytex news archive, first published on 12 May 2008. Figures and names are as reported at the time.
